Get rid of worries about falling interest rates. These top dividend paying stocks could be an ideal portfolio addition for passive income seekers.
Helia Group Limited (ASX: HLA)
Helia Group Limited's 2024 annual report highlights a year of strong financial and operational performance, amidst a challenging environment for Australian home buyers. The company reported a statutory net profit after tax (NPAT) of $231.5M and an underlying NPAT of $220.9M. Helia facilitated over 31,000 home loans and supported over 11,000 customers experiencing hardship. The company also focused on strategic initiatives, including growing its LMI market share and maintaining strong customer relationships, evidenced by a high Net Promoter Score.The Group emphasized its commitment to returning capital to shareholders, with $231.1M returned through dividends and share buy-backs.
HLI is among top quality dividend stocks and has declared distributions to shareholders, including a final ordinary dividend of $0.16 per share and a special dividend of $0.53 per share. The company has also expanded its program for buying back shares on the open market. In a separate development, the company announced that its agreement to supply services to the Commonwealth Bank of Australia is not expected to be extended beyond 2025. It constitutes a substantial portion of Helia’s business. Company management is concentrating on strategies to adapt to this upcoming change and is actively pursuing alternative opportunities for growth, while also maintaining its established capital management approach.
BSP Financial Group (ASX: BFL)
BSP Financial Group is among high quality dividend stocks having demonstrated strength in momentum, delivering value to stakeholders in 2024. The group's total income increased, and dividends paid to shareholders rose by 16%. This reflects a solid financial performance, with a 23.3% return on equity and a 2.8% return on assets. The company has also focused on improving customer experience through reduced wait times and more personalized services, as well as investing in employee training and community support. BSP's strategic focus remains on modernizing its operations and expanding digital capabilities, as evidenced by the launch of the new Bank South Pacific identity and ongoing investment in technology.
BSP is committed to its "Modernising for Growth" strategy looking ahead, with a K345M investment aimed at enhancing customer experience and operational efficiency. The group's financial results for 2024 show a 10% increase in underlying profit, and a 17% rise in statutory net profit after tax, alongside a strong capital position. BSP has also prioritized its social responsibility through financial literacy programs and community engagement. The company's focus on maintaining a strong capital position and delivering consistent dividends underscores its commitment to shareholder value.
(Source: Company Announcements)
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